SK Audits: Fast, strategic Invoice Finance audits with one-click data standardization
SK Audits, the invoice finance auditing specialists, partners with Validis to transform their audit process. By leveraging Validis’ accounting data extraction and standardization tool, SK Audits can deliver more strategic, insightful audits while significantly reducing the burden on clients.
reduction in data preparation time
more time focused on strategic analysis
onsite to audit 7 companies, previously impossible
"Validis gives me the confidence to tackle audits of any size or complexity. With audit-ready data at the click of a button, I can access accurate, comprehensive information, allowing me to focus on what really matters - understanding the business, its people, and its financial health."
Steve Kilby, Founder, SK Audits
The Goal
The Idea
The impact we made
When Steve Kilby founded SK Audits, he knew that technology would be key to delivering superior auditing services. Having previously experienced the benefits of Validis, Steve didn’t hesitate to make it a cornerstone of his new venture. As Steve recalls:
“I didn’t even shop around. I knew Validis could give me the edge I needed in this competitive field.”
The impact was immediate and transformative. Tasks that once took hours were reduced to the click of a button, providing audit-ready data that was right-the-first-time. For a recent seven-company audit, Steve spent just 3 days on-site, having analyzed accounts receivable trends beforehand. This efficiency allowed Steve to engage in deeper conversations with clients, gaining valuable insights into business operations, audit trails, and credit control practices. As a result, Steve was able to deliver a more comprehensive audit to the invoice finance lender, grounded in a real understanding of each business. Steve explains:
“Before Validis, I’d spend hours crunching numbers and pulling reports, often finding discrepancies that required painstaking review.
Now, I get standardized, audit-ready data at the click of a button. It’s done in seconds, and I know it’s right-the-first-time. This frees me up to focus on what really matters – understanding the people, the debt structure, and the financial nuances of the business.”
The standardized, high-quality data provided by Validis has been a game-changer for SK Audits. The exceptional granularity of the data allows Steve to dive deep into financial records, uncovering insights that might have been missed with traditional methods. Steve notes:
“The level of detail and consistency in the data is remarkable.
With Validis, I can produce 12-month statistics of a client instantly, drill down into specific months for details, and perform dilution or credit note tests more easily. It allows me to spot trends and anomalies quickly, making my sampling more strategic and my analysis more robust.”
This shift has not only improved the efficiency of SK Audits but has also enhanced the value they provide to clients. With more time for strategic analysis, Steve can now offer deeper insights and more targeted recommendations.
“The confidence and comfort it gives the business, knowing that they don’t have to invest as much time as they would probably expect to invest on the day, that’s a real asset.”
The benefits extend to SK Audits’ clients as well. The streamlined data collection process means less disruption to their day-to-day operations. To alleviating their audit anxieties, Steve tells his clients:
“You don’t need to worry about getting all your financial documents together on the day.
Half of what I’m going to ask you for, you can quickly share with me beforehand. Just click this one link and put in your passwords. And you’re done in minutes.”